Norwegian CEO Kevin Sheehan steps down

Norwegian Cruise Line Holdings, president and CEO Kevin Sheehan has unexpectedly stepped down.

A press release on Friday gave no explanation for Sheehan’s departure. It said the board of directors named Frank Del Rio, CEO of Prestige Cruises International Inc., as his replacement.

“Frank Del Rio has established himself as a leader and innovator in our industry,” Steve Martinez, a Norwegian board member, said in a statement.

“Norwegian is poised for continued growth, and we are delighted to have Frank lead our team during the next phase of the company’s evolution.”

The press release included a quote from Sheehan: “It has been a privilege to lead Norwegian over the last seven years,”

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“I am proud of what we have accomplished, and take comfort in the knowledge that I am leaving the company much healthier and stronger than when I joined.

“With the company set for success, I hand the baton off to Frank, a proven leader in the cruise industry.” He added.

He joined Norwegian as chief financial officer in 2007, becoming CEO in late 2008. He is credited with steering the company to a financial turnaround, posting a profit in 2009 for the first time in four years.